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CALGARY, AB, Feb. 7, 2022 /CNW/ - Big Rock Brewery Inc. (TSX: BR) ("Big Rock" or the "Corporation") is pleased to announce that its Board of Directors (the "Board") has approved its 2022 operating and capital budget that will support significant volume and revenue growth at its Calgary brewery.

 

"We are excited to announce the approval of our 2022 budget as we enter into the 'Fill up' phase of our long-term strategic plan. Big Rock is primed to deliver profitable growth moving forward," said President & CEO Wayne Arsenault.

The Board has approved a $1.4 million capital budget for 2022 consisting of $1.0 million to complete certain approved 2021 capital projects supporting packaging and IT digital transformation. The remaining $0.4 million relates to new 2022 capital projects focused on optimizing capacity in brewing and packaging in Calgary and maintenance capital.

The 2022 operating budget represents the transition of the Corporation from the 'Gear up' phase to the 'Fill up' phase of its long-term strategic plan. The key themes driving the 2022 operating budget are:

  • Net revenue of $48 million to $52 million which includes a 65% to 85% year-over-year growth in the Corporation's co-packing business;
  • Improved utilization and increased productivity in the Calgary facility that will assist in offsetting inflation on input costs; and
  • Wholesale price increases in-line with competitors across all markets.

The 2022 operating budget does not attribute any optimization of assets outside of Alberta nor any resurgence in the Corporation's depressed keg sales as a result of the pandemic.

Vancouver Restaurant Closure

Effective January 25, 2022, Big Rock permanently closed the Vancouver Taproom & Restaurant as a result of the financial toll the continuing COVID-19 pandemic and related restrictions have had on these operations. The brewing operations at the location remain unchanged and continues to service the Vancouver and British Columbia markets.

Forward-Looking Information and Future-Oriented Financial Information

Certain statements included in this news release constitute forward-looking statements. These statements relate to future events or the Corporation's future performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as ''anticipate'', ''believe'', "continue", "could", ''estimate'', ''expect'', "intend", "may", "might", "plan", "potential", "predict", "project", "seek", "should", "targeting", "will" and other similar expressions. All forward-looking statements are based on beliefs and assumptions based on information available at the time the assumption was made. These forward-looking statements are not based on historical facts but rather on expectations regarding Big Rock's business plan and focus and the results thereof; expectations regarding the Corporation's 2022 operating and capital budget; expectations regarding Big Rock delivering profitable growth; the anticipated benefits to be derived from the Corporation's 2021 and 2022 capital projects; anticipated revenue for 2022; anticipated growth in the Corporation's co-packing business; expectations that the Corporation will improve its utilization of the Calgary facility and the anticipated benefits thereof; and anticipated material price increases in-line with competitors across all markets. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from those anticipated in such forward-looking statements. Although the forward-looking statements contained in this news release are based upon what the Corporation believes to be reasonable assumptions, no assurance can be given that these expectations will prove to be accurate and such forward-looking statements included in this news release should not be unduly relied upon by investors. These forward-looking statements are made as of the date of this news release. The Corporation does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.

With respect to the forward-looking statements and FOFI (as defined below) contained in this news release, management has made assumptions regarding, among other things: its ability to execute on its business plan in a timely manner and the results thereof; volumes in the current fiscal year will remain constant or will increase; price increases will be accepted by customers and consumers; input costs for brewing and packaging materials will not materially increase or decrease; there will be no material change to the regulatory environment in which Big Rock operates; there will be no material supply issues with Big Rock's vendors and that Big Rock will be able to use its new production capacity and increase volume with co-packing agreements.

Factors which could cause future outcomes to differ materially from those set forth in the forward-looking statements include, but are not limited to: (i) the ability to obtain sufficient and suitable financing to support operations, development and sale of products; (ii) the ability to execute partnerships and corporate alliances; (iii) the ability to attract and retain key personnel and key collaborators; (iv) the ability to execute on the Corporation's business plan and the timing and results thereof; (v) the market for the Corporation's products; (vi) market and general economic conditions; (vii) the impact of a significant disruption to the Corporation's production and operations; (viii) the inability to fill its production capacity and grow volume with co-packing agreements; (ix) the inability to remediate manufacturing issues as they arise; (x) the worldwide economic and social impact of the COVID-19 pandemic; (xi) the duration and extent of the COVID-19 pandemic; (xii) the inability to improve the Corporation's utilization of the Calgary facility; and (xiii) the unwillingness of Big Rock's customers and consumers to accept price increases. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

This news release also contains future oriented financial information (in each case, "FOFI") about the Corporation's prospective results of operations including, without limitation, expectations regarding Big Rock delivering profitable growth; the anticipated revenue for 2022; and the anticipated growth in the Corporation's co-packing business. Any FOFI contained in this news release regarding prospective financial position is based on reasonable assumptions about future events, including those described above, based on an assessment by management of the relevant information that is currently available. The actual results will likely vary from the amounts set forth herein and such variations may be material. Readers are cautioned that any such FOFI contained herein should not be used for purposes other than those for which it is disclosed herein. Such information was made as of the date of this news release and the Corporation disclaims any intention or obligation to update or revise any such information, whether as a result of new information, future events, or otherwise, unless required pursuant to applicable law.

 
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Ogden’s Own, an award-winning leading distiller of craft spirits and the largest independently owned distillery in the state of Utah, is putting out a nationwide call for its 2022 group of “Five Husbands” to be featured on this year’s edition of the Five Husbands Vodka bottle.

See the press release below:

 
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The Craft Beer Marketing Awards (CBMAS) has expanded its worldwide judges panel to include over 500 beverage and beer industry professionals in 24 countries, marking a true milestone in its third year. Seven Canadian judges have joined the panel this year.

Please see attached news release below

Attachments:
Download this file (CBMAS Canada Judges.pdf)CBMAS Canada Judges.pdf[ ]1030 kB
 
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Heaven Hill, America’s largest independent, family-owned and operated distilled spirits supplier, has today acquired Samson & Surrey, including its portfolio of brands and facilities. The acquisition of Samson & Surrey further extends Heaven Hill’s portfolio with six high-growth, super-premium brands in several of the industry’s fastest growing categories.

“Throughout our 86-year history, our focus has been building a business with a portfolio of great brands sold through a great team,” said Max L. Shapira, president, Heaven Hill Brands. “The Samson & Surrey portfolio strategically enhances our portfolio with emerging brands in strong growth categories. Together with their team, Heaven Hill is poised to leverage the tremendous potential of these exciting brands.”

Under the leadership of Robert Furniss-Roe and Juan Rovira, Samson & Surrey has built a remarkable portfolio of highly differentiated premium brands growing at 60% per annum, tracking $40m in Sales and present in over thirty markets worldwide. Included in the acquisition are Tequila Ocho, Widow Jane American Whiskey, Few Spirits, Brenne French Whisky, Bluecoat Gin, and Mezcal Vago. The company will continue to operate as an independent division of Heaven Hill lead by Robert and Juan.

“Over the last five years we have enjoyed unprecedented success thanks to the talents of our team, the truly remarkable award-winning liquids we make, and the engaging consumer stories we tell. The combined talent, scale, and resources of Heaven Hill now present a unique opportunity to provide a long-term home for Samson & Surrey and to further accelerate our growth,” said Robert Furniss-Roe, co-founder and CEO, of Samson & Surrey. “We believe strongly in the potential of our brands which are perfectly positioned to capitalize on the key spirits market trends. We could not be more delighted to join Heaven Hill and work together to continue building a strong portfolio in the premium and super-premium segments,” further commented Juan Rovira, co-founder and COO of Samson & Surrey.

According to DISCUS Super Premium Tequila and Whiskey continue to enjoy growth rates more than 30% over the last five years as American consumers continue to adopt more premium products.

Perella Weinberg Partners LP acted as exclusive financial advisor to Heaven Hill with respect to the transaction. RBC Capital Markets, LLC acted as exclusive financial advisor to Samson & Surrey.

 
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The forthcoming Wine Paris & Vinexpo Paris, which opens from 14 to 16 February at Paris Expo Porte de Versailles, will honour the world of spirits in its dedicated Be Spirits area, where an extensive and diverse choice of products will complement the display fo wines from around the world. 

At the intersection between business and inspiration, Be Spirits and its vast Infinite bar will be the focal point for spirits and mixology professionals, a place where they can discover brands and producers from across the spectrum, ranging from craft distilleries to household names. Over 120 spirits exhibitors will attend Wine Paris & Vinexpo Paris and the vast majority of them will be located in the Be Spirits zone.

As part of the On ! programme, Be Spirits will also host masterclasses, conferences and panel discussions focusing on new trends and issues facing the global spirits industry:

A vertical of Saint James x Velier, by Rhums Saint James,

The influence of wine casks on Single Malts, hosted by Glenn Moray,

An Introduction to rum: what to know and how to taste, by the International Spirits Centre,

The spirit and variety of an outstanding terroir bottled by the craft distillers of Quebec,

Armagnac reaches its peak at any age! and Armagnac: the stylish new darling of mixology, by the national Armagnac marketing board (BNIA).

Attendees will also be able to follow similarly fascinating conferences on:

Development of the spirits market, by The IWSR, 

The major trends and drivers that will shape tomorrow’s society, by So Wine,

Wines and spirits in words, by MOVIS,

Spiriterie Française Château du Breuil – Normandy: Focusing on innovation in the world of premium spirits and Spiritourism, by La Spiriterie Française.
 

The FEVS (French Federation of Wine & Spirits Exporters) will also reveal the results of French wine and spirits exports during its annual press conference.
 


BE SPIRITS, AN EVENT WITHIN THE EVENT

Located in Hall 3, at the very heart of Wine Paris & Vinexpo Paris, Be Spirits will bring together all strands of the industry: importers, distributors, wholesalers, opinion leaders, major e-commerce brands, specialist merchants, the hospitality industry... All of them will be able to discover new spirits and complement their range with new listings.

This year, spirits will be extending their footprint with 61 % extra floor space compared with the area’s debut in 2020 and 2/3 new exhibitors. Alongside the many French attendees, 1/3 of exhibitors are internationals, from Belgium, Canada, Denmark, Spain, United States, Hong Kong, Iceland, Italy, Japan, Kazakhstan, Romania, United Kingdom, Austria, China, Israel, Switzerland, Russia and Venezuela. They will be presenting over 20 types of spirits (Acerum, Armagnac, Cachaça, Calvados, Cognac, Brandy, Gin, Grappa, Hard seltzers, Mezcal, Rum, Saké, Shochu, Ready-to-Drink/RTD, Tequila, Tonic, Umechu, Vermouth, Vodka, Whisky, Arak, Baijiu…).

Products on display will include the Icelandic gin Olafssonou and the French hard seltzer Alqua. Visitors will also be able to taste organic spirits from the wonderful Vivant company and savour the premium vodka Taiga Shtof, produced from winter grain that grows beneath the snow in the Siberian Taiga or Hong Kong spirits from Summer & Co which are unique in that they donate 25 % of their profits to animal protection associations.
 

THE INFINITE BAR

Over more than 40 metres in length, twenty or so Parisian bars* will set the stage for all these brands and showcase mixology to make this the beating heart of Be Spirits. A meeting point for bartenders and brands, the Infinite bar offers a faithful rendition of the cues from the bar world and the opportunity for mixologists from each partner bar to turn the spotlight on the art of the cocktail over the three-day event.

For more information, please visit wineparis-vinexpo.com

 

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